Ensure you never miss an issue of the
real estate business bulletin
Prime time to invest in holiday homes

Prime time to invest in holiday homes

by Reporter 0 comments

Cashed up Australians have the chance to buy their dream holiday home thanks to a slide in property values in some key holiday hotspots.

Raine & Horne Palm Beach principal Glenn Lee told The Australian that values have plunged by more than 20 per cent in some pockets of well known holiday hot spots including Palm Beach.

“From a buyer's point of view, these opportunities to get into a market like this probably only come around once or twice in a lifetime,” Mr Lee said.

"There are other people who have done well and who are cashed up and are seeing this as a great time to get back into the market.”

RP Data residential research director Tim Lawless agreed that now was a great time for investors who are on the verge of buying in.

"There is a fantastic opportunity for those people who were blocked from buying in (because of) the financial situation. There are a lot of those people now who have the ability to be buying into these lifestyle markets,” he said.

Dwelling prices in the popular holiday spot Airlie Beach have also slid dramatically over the past year.

PRDnationwide Whitsunday property consultant Rob Taylor said today buyers could secure a sea view unit at the heart of Airlie Beach from about $350,000 and a house with a reasonable sea view from about $850,000.

While just one year ago, these properties would have fetched $100,000 to $150,000 more.

le>.b-autolinks{text-decoration:underline}.b-autolinkshadowbox { display: inline; position: relative; cursor: pointer; color: #428bca;} .b-autolinkshadowbox:hover > span { display: block !important; } .b-autolinkshadowbox__links { white-space: nowrap; z-index: 999; display: none; left: 0; border: 1px solid #bfbfbf; border-radius: 5px; font-size: 12px; top: 12px;color: #000; padding: 10px; position: absolute; background-color: #FFF; box-shadow: 0px 0px 20px 1px #bfbfbf; } .b-autolinkshadowbox__links > a { display: block; padding: 3px 0; }
Prime time to invest in holiday homes
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
An industry where the resilient succeeds

Tim Heavyside believes that a strong support team and good foundations are paramount to success in the real estate industry, and with regu...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?